Mortgage Broker West Palm Beach

Posted by Christian Penner at Jun. 28, 2011

While the US economy is still recovering, millions of Americans are taking advantage of short sale homes and foreclosures in their area. Whether you are looking to buy your first or second home having the right West Palm Beach Mortgage Broker can help you save thousands of dollars.

The problem is that many people have no idea where to start when it comes to mortgage financing. In fact, there are thousands of web pages in Google for the search “West Palm Beach Mortgage Broker” That’s why I want to share 3 ways a West Palm Beach Mortgage Broker can secure a low-interest rate mortgage and help you purchase the home of your dreams.

One unprepared first-time home buyer shares about his frustrating home buying experience, “I was looking to purchase a home in my local area but I didn’t really know where to start. I contacted a realtor who said I first needed to secure financing before they would show me homes in the area. It took me weeks just to find the right West Palm Beach Mortgage Broker online, to get my paper work together and finally secure financing. I wasted so much time initially and could have been in my new home months earlier had I known where to start.”

Start you home buying experience off right by hiring a West Palm Beach Mortgage Broker secrets before buying your next home and you could save time and money!

Secret 1: Always Start With a West Palm Beach Mortgage Broker – Many homebuyers begin the home buying process with their real-estate agent but in reality it’s always best to start by contacting a mortgage broker first. Many real-estate agents won’t even work with a home buyer until they have secured financing.

Secret 2: Finding a Reliable West Palm Beach Mortgage Broker– There are several ways to find a West Palm Beach Mortgage Broker but only a few that will actually find you a reputable one. The best way to find a West Palm Beach Mortgage Broker is through an online search. Online searches allow you access to their websiteor Google Places where you can find additional home buying resources, mortgage calculators and even customer reviews. Review their online presence and portfolio, and if you feel comfortable with their qualification call or send an inquiry via email.

Secret 3: Gather Relevant Documents – Don’t waste your time in the first meeting with your West Palm Beach Mortgage Broker, so be prepared and bring copies of your tax returns, 1099, W-2’s, and asset statements. This way, the West Palm Beach Mortgage Brokercan get to work on getting you the best interest rate that day.

If you need a West Palm Beach Mortgage Brokerfor your next home purchase, who has online references, resources, and who can help you purchase your dream home, then we invite you to contact Christian Penner at (561) 316-6800 or email at christian@christianpenner.com.

Everyone wants to get the best deal when buying a home. However, Mortgage Broker West Palm Beach has some good advice for potential buyers who are waiting to see if home prices come down a little more, the wait could cost them.

Let's look at an example, from Mortgage Brokers West Palm Beachto see why. Say a home buyer wants to buy a home that costs $300,000. But the buyer wants a better deal on the home, so she delays a transaction until the home is reduced by $10,000. If, in the meantime however, rates were to rise .75% to 6.00% and the buyer financed 90% of the purchase price, the amount of total payments over a 30-year term would be over $35,000 more than paying the $300,000 purchase price and locking in the 5.25% interest rate. In other words, the buyer would save $10,000 only to end up paying $35,000 more.

Now these prices and rates are just for the sake of example. But according toMortgage Brokers West Palm Beachthe point is that home prices are already very affordable…and rates are still low for now. So in the end, waiting for a home price to reduce may end up costing you much more than you expect if rates rise.

Mortgage Interest Rates for Fixed Rate Mortgages*

Rates as of Monday, 15th August, 2011:

Term

Conforming

APR

Payment per
$1,000

Jumbo

APR

Payment per
$1,000

30-yr Fixed

360

4.125%

4.208%

$4.85

4.625%

4.711%

$5.14

15-yr Fixed

360

3.250%

3.329%

$4.35

4.25%

4.334%

$4.92

FHA 30yr Fixed

360

4.000%

4.082%

$4.77

%

0.000%

$0.00

FHA 5yr Arm

360

2.875%

2.952%

$4.15

%

0.000%

$0.00

5-yr Arm

360

3.250%

3.329%

$4.35

3.000%

3.078%

$4.22

5-yr Arm Int Only

360

3.375%

3.455%

$2.81

3.125%

3.203%

$2.60

*Rates are subject to change due to market fluctuations and borrower's eligibility.

Christian is a Full Service Mortgage Banker. He is also approved with numerous lending sources throughout the country. He provides conventional, non conforming, jumbo, construction perm, FHA and VA loans. He assists customers with great credit and no credit. He can assist individuals and professionals with their financing needs whether buying, selling or refinancing real estate. If he can be of assistance or to be added his distribution list, contact him at the telephone numbers provided. To be added to his distribution list please register at : http://www.dbnurture.com/optin.php?u=cpenner